Smartleaf Asset Management LLC Grows Holdings in Avista Co. (NYSE:AVA)

Smartleaf Asset Management LLC raised its stake in Avista Co. (NYSE:AVA) by 117.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 858 shares of the utilities provider’s stock after purchasing an additional 464 shares during the period. Smartleaf Asset Management LLC’s holdings in Avista were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Avista by 296.7% in the 4th quarter. Allworth Financial LP now owns 956 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 715 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Avista by 43.0% in the 4th quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 518 shares during the last quarter. Eastern Bank increased its position in shares of Avista by 309.3% in the 4th quarter. Eastern Bank now owns 1,842 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,392 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Avista by 183.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,856 shares of the utilities provider’s stock valued at $68,000 after buying an additional 1,202 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Avista by 46.9% during the 3rd quarter. KBC Group NV now owns 2,098 shares of the utilities provider’s stock valued at $81,000 after buying an additional 670 shares during the last quarter. Institutional investors own 85.24% of the company’s stock.

Avista Price Performance

Shares of NYSE:AVA opened at $38.83 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. Avista Co. has a fifty-two week low of $33.00 and a fifty-two week high of $40.23. The firm has a 50-day simple moving average of $37.35 and a 200 day simple moving average of $37.66. The company has a market cap of $3.11 billion, a PE ratio of 15.47, a P/E/G ratio of 2.56 and a beta of 0.46.

Avista (NYSE:AVA) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The firm had revenue of $517.00 million for the quarter, compared to analyst estimates of $487.48 million. Avista had a net margin of 10.24% and a return on equity of 7.83%. On average, sell-side analysts anticipate that Avista Co. will post 2.3 EPS for the current year.

Avista Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.05%. This is a positive change from Avista’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, February 26th. Avista’s payout ratio is presently 86.34%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lowered their price objective on shares of Avista from $40.00 to $39.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th.

Insider Buying and Selling at Avista

In other news, VP Scott J. Kinney sold 2,298 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the transaction, the vice president now directly owns 12,539 shares in the company, valued at $485,886.25. This trade represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is currently owned by company insiders.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.